S. 5280: CFPB Stability Act of 2022
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S. 5280: CFPB Stability Act of 2022
117th Congress · introduced 2022-12-15 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
federal
Follow this bill, step by step
- Where it came from: introduced 2022-12-15 · official record
- Who proposed it: Sen. Toomey, Patrick [R-PA] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
CFPB Stability Act of 2022
Plain summary
CFPB Stability Act of 2022 This bill restructures the leadership and funding of the Consumer Financial Protection Bureau. Specifically, the bill removes the bureau from the Federal Reserve System. Additionally, the bill eliminates the positions of director and deputy director and establishes a five-person panel appointed by the President and confirmed by the Senate, with not more than three members belonging to any one political party. Under the bill, the inspector general of the bureau must be appointed by the President and confirmed by the Senate. Under current law, the inspector general of the Federal Reserve Board also serves as the inspector general of the bureau. Further, the source of funding for the bureau is changed from Federal Reserve System transfers to annual appropriations. Under current law, the transfers from the Federal Reserve System permit the bureau to be funded outside of the annual appropriations process.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
CFPB Stability Act of 2022
Source: Congressional Research Service summary (Introduced in Senate)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Toomey, Patrick [R-PA] · 1 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Bill Hagerty (R-TN)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (2)
- Appropriation
- Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s5280.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>
Record fed-us-cong117-s5280 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117